DBRS confirms M&T Bank

DBRS, Inc. said it confirmed the ratings of M&T Bank Corp.'s issuer and senior debt ratings of A (low).

The trend remains stable.

The action follows the company's plans to acquire Hudson City Bancorp, Inc. for $3.7 billion, according to the agency.

The acquisition is consistent with M&T's opportunistic strategy of buying banks at a rational price with compatible corporate cultures, the agency noted.

The confirmation reflects M&T's strong Northeast and mid-Atlantic commercial and consumer banking franchise, which is underpinned by sound asset quality, a solid funding profile and sound earnings generation, the agency said.

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